HR 1773 · 107th Congress 2001โ€“2003, ended

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer.

Latest action · May 9, 2001 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMay 9, 2001
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Internal Revenue Code to allow a first-time homebuyer who purchases a principal residence a tax credit of ten percent of the purchase price of such residence. Limits the credit to $6,500. Requires married individuals filing jointly to both be first-time homebuyers. Makes this credit applicable to a principal residence only if the taxpayer enters into, on or after June 1, 2001, and before June 1, 2002, a binding contract to purchase the residence, and purchases and occupies the residence before January 1, 2003.

Cosponsors 37

Members who signed on, in the order they did. Signatures ran from May 9, 2001 to Dec 6, 2001; 1 is an original cosponsor, there from the day it was introduced.

SeatCosponsorSigned on
D-FLKaren L. ThurmanOriginalMay 9, 2001
R-PAJames C. GreenwoodJun 8, 2001
D-PAJoseph M. HoeffelJun 8, 2001
D-OHTony P. HallJun 8, 2001
D-MEJohn Elias BaldacciJun 14, 2001
D-ILLane EvansJun 14, 2001
D-GACynthia A. McKinneyJun 19, 2001
D-NCEva M. ClaytonJun 20, 2001
D-TXMartin FrostJun 20, 2001
D-CABob FilnerJun 21, 2001
R-VAEric CantorJun 21, 2001
D-CAJoe BacaJun 21, 2001
R-PAMelissa A. HartJun 21, 2001
R-PAJohn E. PetersonJul 10, 2001
R-WIMark GreenJul 10, 2001
D-MIDale E. KildeeJul 23, 2001
R-VAEdward L. SchrockJul 23, 2001
R-COThomas G. TancredoJul 23, 2001
D-OHDennis J. KucinichJul 27, 2001
D-NYGregory W. MeeksJul 31, 2001
D-MAJames P. McGovernJul 31, 2001
R-ILRay LaHoodAug 1, 2001
D-NJBill Pascrell, Jr.Aug 2, 2001
D-ORDavid WuAug 2, 2001
D-NJRush HoltAug 2, 2001
R-PABill ShusterSep 5, 2001
D-PAFrank MascaraSep 5, 2001
R-NYJohn M. McHughSep 5, 2001
D-NYMajor R. OwensSep 5, 2001
D-AZEd PastorSep 13, 2001
R-NMHeather WilsonSep 13, 2001
R-FLMark FoleySep 21, 2001
R-COBob SchafferOct 2, 2001
D-KYKen LucasOct 2, 2001
D-MNBetty McCollumOct 16, 2001
D-NJDonald M. PayneNov 29, 2001
R-INMark E. SouderDec 6, 2001

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred May 9, 2001

Actions 2

Everything that happened, newest first.

  1. May 9, 2001Introduced in House
  2. May 9, 2001Referred to the House Committee on Ways and Means.

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer.

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. May 9, 2001Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.